Category: Bills & Bonds

Sept 25, 2007 (LBO) – Sri Lanka’s benchmark 3- month treasury yields went up 15 basis points to 18.20 with the cut-off pushing 18.30 percent dealers said, as authorities struggled to stabilize an economy hit by heavy government spending. Meanwhile 6-month yields went up 15 basis points to 17.47 percent and the 12-month went up […]

Sept 24, 2007 (LBO) – Sri Lanka’s opposition has renewed its warning that a planned sovereign bond has no parliamentary sanction and a future government made up of the current opposition will “cancel” the bond. The opposition United National Party leader Ranil Wickremesinghe had warned HSBC Bank, a joint lead manager of the bond deal, […]

Sept 14, 2007 (LBO) – Foreign names bought into a popular rupee bond sending yields crashing down and raising fears of manipulation Friday, while the Sri Lanka currency closed at a new low against the greenback with deals done at 113.40 rupees, dealers said. The rupee which opened at 113.30/32 in spot trade closed at […]

Sept 13, 2007 (LBO) – An international anti-corruption body has raised questions over a controversial sovereign bond issue by Sri Lanka as well as the role of the country’s central bank in it and has called for more transparency in the deal.Transparency International, releasing a discussion paper on the issue, also slammed the main opposition […]

August 29, 2007 (LBO) – Sri Lanka’s main opposition announced a protest in front of HSBC Bank’s Colombo office after its leader warned that the country may not be able to repay 500 million dollars the bank is helping to raise. United National Party leader Ranil Wickremesinghe informed HSBC chief Stephen Green that the proposed […]

August 22, 2007 (LBO) – The Sri Lanka rupee slipped to a new life low and three month treasury bill yields edged up 10 basis point to 17.55 percent Wednesday as the Central Bank stayed off the primary market, dealers said. Authorities have also been using heavy moral suasion to stop dealers from buying dollars […]

August 21, 2007 (LBO) – Sri Lanka’s Central Bank eased access to its discount window with overnight rupee rates hitting 40 percent, while the spot dollar hit an intra-day high of 112.10 rupees Tuesday, dealers said. Interbank money markets are facing liquidity shortages stemming from an outflow of foreign exchange. The monetary authority has been […]

August 15, 2007 (LBO) – Sri Lanka rolled over 12 billion rupees of treasury bills heavily weighted towards the short end with yields edging up marginally, the government’s debt office said.Three-month bills edged up four basis points to 17.45 percent while 6-months remained flat at 17.12 percent and 12-month bills were at 16.89 percent. The […]

August 14, 2007 (LBO) – Sri Lanka’s state-owned Ports Authority (SLPA) is planning an international bond issue to raise funds for new expansion projects and repay debt, its chairman Saliya Wickramasuriya said.“The inescapable fact at the moment, the most important thing to the port at the moment, is the ability of a bidder to ramp […]

August 02, 2007 (LBO) – Sri Lanka has appointed J P Morgan, Barclays Capital and HSBC to raise 500 million dollars from international market, the government’s debt office said.Twelve international banks and investment houses submitted their proposals and made presentations to be lead managers. Citibank, Standard Chartered, Deutsche Bank, UBS Warburg were also in the […]

August 1, 2007 (LBO) – Attractive offers from international banks for a sovereign bond has made it likely that Sri Lanka will raise 500 million dollars rather than 400 million dollars, Central Bank Governor Nivard Cabraal said. “It is likely that we will go for 500 million dollars,” Cabraal told LBO. “I think the rates […]

April 25, 2007 (LBO) – Sri Lanka Treasury bill yields edged up by an average 33 basis points to 15.84 Wednesday, while the 3-month cut-off yield topped 16.70 percent, dealers said. In April reserve money rose to 277 billion partly due to seasonal factors which the bank has to bring down as the money comes […]